Encana Corporation (NYSE:ECA) (TSE:ECA)‘s stock had its “buy” rating reissued by Royal Bank Of Canada in a note issued to investors on Thursday. They currently have a $12.00 price objective on the oil and gas company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 20.72% from the company’s current price.

Several other research analysts also recently commented on ECA. UBS AG upgraded Encana Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $12.00 to $14.00 in a research note on Thursday, March 23rd. BidaskClub upgraded Encana Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC set a $14.00 target price on Encana Corporation and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity set a $12.00 target price on Encana Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Finally, TD Securities upgraded Encana Corporation from a “hold” rating to a “buy” rating and set a $11.50 price target for the company in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. Encana Corporation has an average rating of “Buy” and a consensus price target of $13.42.

Shares of Encana Corporation (NYSE ECA) traded down 2.72% during midday trading on Thursday, hitting $9.67. 11,755,474 shares of the stock were exchanged. The firm’s market capitalization is $9.41 billion. The stock’s 50-day moving average price is $9.02 and its 200-day moving average price is $10.98. Encana Corporation has a 1-year low of $7.50 and a 1-year high of $13.85.

Encana Corporation (NYSE:ECA) (TSE:ECA) last issued its earnings results on Tuesday, May 2nd. The oil and gas company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.03 by $0.08. Encana Corporation had a positive return on equity of 5.21% and a negative net margin of 3.87%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $789.49 million. During the same quarter last year, the company earned ($0.15) EPS. On average, analysts forecast that Encana Corporation will post $0.36 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the stock. Causeway Capital Management LLC raised its stake in Encana Corporation by 95.2% in the first quarter. Causeway Capital Management LLC now owns 48,768,776 shares of the oil and gas company’s stock valued at $571,082,000 after buying an additional 23,779,815 shares in the last quarter. BlackRock Inc. raised its stake in Encana Corporation by 11,232.3% in the first quarter. BlackRock Inc. now owns 21,896,113 shares of the oil and gas company’s stock valued at $256,403,000 after buying an additional 21,702,894 shares in the last quarter. Wellington Management Group LLP raised its stake in Encana Corporation by 337.3% in the first quarter. Wellington Management Group LLP now owns 12,168,568 shares of the oil and gas company’s stock valued at $142,337,000 after buying an additional 9,385,795 shares in the last quarter. Steadfast Capital Management LP raised its stake in Encana Corporation by 12.2% in the first quarter. Steadfast Capital Management LP now owns 19,974,573 shares of the oil and gas company’s stock valued at $233,902,000 after buying an additional 2,164,300 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Encana Corporation during the first quarter valued at $21,564,000. Institutional investors own 72.62% of the company’s stock.

About Encana Corporation

Encana Corporation is an energy producer that is focused on developing its multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The Company’s operations also include the marketing of natural gas, oil and NGLs. All of its reserves and production are located in North America.

Analyst Recommendations for Encana Corporation (NYSE:ECA)

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